St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-20
the partnership, all of which are in the
possession of Merriam and to which
Mcleod is positively refused all access.
LEARNED IN ST. PAUL.
What Various Gentlemen So


NhaC various Gentlemen Say
About the Matter.
Mr.. Merriam left last Monday. with
his family, for the East. The family
will spend the winter in Washington,
and Mr.. Merriam is expected to return
about Thanksgiving. He is at present
a guest at the Fifth Avenue hotel, New
York.
John l.. Merriam, father of the bank
president, when shown the telegram at
his palatial residence on University av-
enue, replied: ''Say, most positively,
for me, that there is not a word of truth
in that. William has not been in any
wheat speculation for years and years.o
CASHIER SEYMOUR's STATEMENT.
+. A. Seymour, cashier of the Mer-.
chants bank, was awakened from sleep
at his residence, No. 155 Nina avenue,
but he was without any detailed knowl.
edge of the case. He knew that by some
deal several years ago Mcleod gave
notes to Merriam for several thousand
dollars, which Merriam had never been
able to collect. Suit had been brought
by Merriam to recover and he thought
the bill OF equity and the charges COM
tanned therein were McLeOd's reply in
the suit. Mr.. Seymour had heard of the
transaction, and thought Mr.. Elliott,
Merriam'S private secretary, or John
Quincy Adams, formerly manager for
David DOws & Co., in this city, would
know all about it.
PRIVATE SECRETARY ELLIOTT.
X. e. Elliott, the bank presidents pri-
vate secretary, was found at No. 53J
Robert street. He spoke of the trouble
between his employer and Mcleod very
guardedly. He said: ''In 1878 Mr..
Merriam furnished Mcleod some money
for the purchase of wheat III Manitoba,
with some understanding as to the mu-
tual share of the profits, but l do not
know what the terms of the understand
ing were. The deal resulted in loss
and MIR. Merriam took McLeod's notes
for his proportion of the loss. | think
the total loss was $1,000, and Mr.. Mer-
riam is now suing Mcleod on his note,
which, with the accrued interest,
amounts to about $4,000. There has
been considerable correspondence be-
tween the two, and Mcleod turned over
some collateral to Mr.. Merriam in the
shape OF lands and mortgages on lands
i'll Dakota and Minnesota" In response
to further questioning Mr.. Elliott went
on: II don't know what the amount of
money used in the deal was, but it must
have been three or four times the
amount of the loss. Mcleod thought he
saw chance to make money and came
to Mr.. Merriam with his plan. Mcleod
was to buy wheat, which was then sell.
ing at abnOrmally low prices in Mani
tOba, ship the grain to the United States.
In bond, and sell it here, expecting TO
realize
A VERY GOOD PROFIT
on the difference in prices. Some of the
wheat, think about $1,000 worth, was
marketed here with David DOwS & Co..,
through their agent John Quincy Adams,
but think most of it was marketed in,
Chicago. Mr.. Adams does not know very
much about it. | went to his books
hoping to get figures with which to take
the case into court; bnt they made
very little showing. MIR. Mer-.
riam and Mcleod were favOrabIy
quite intimate friends, but of late wears
Mr.. Merriam has grown tired of being
abused by Mcleod, and, after having
repeatedly tried to settle the matter. has
at last brought it into court. Mr. Mer-
riam once offered to take the collateral
lands, securing the note as part pay,
ment. As near as we could estimate
fair value of the lands would be $1,000,
and Mr.. Merriam offered to take them
and new note for the balance. Nc
Leod once wanted Merriam to take the
lands and call the whole thing square,
but MI. Merriam refused to do this be-
cause, | suppose, he did not feel like
losing over $1,000 due him. Mr.. Merriam
has been in correspondence with mu-
tual friend, who is a banker i'll New
York, and who, at Mr.. MerriamS re-
quest, talked the matter over with Nc
LeOd, and through him Mcleod offered
S4 900 in settlement"